View this short 2-minute video to learn more about ICS.
How ICS® Works
If you have deposits at a single bank in a single-ownership capacity, then you have access up to $250,000 in FDIC insurance at that bank.
But with the ICS, or Insured Cash Sweep®, service, you can access multi-million-dollar FDIC protection by working directly with just one bank that offers ICS.
Financial institutions that offer Insured Cash Sweep are members of a unique network – the ICS Network. Everything is handled through an ICS Network member of your choice. When you place a large deposit with an ICS Network member, that institution uses the ICS service to place your funds into demand deposit accounts (using the ICS demand option), money market deposit accounts (using the ICS savings option), or both, at other FDIC-insured member institutions.
The placement of your funds occurs in increments below the standard FDIC insurance maximum of $250,000 so that both principal and interest are eligible for FDIC insurance. By working directly with just one institution, you can access insurance coverage from many. And, you receive just one regular, monthly account statement.
Read customer experiences in the Case Studies and Testimonials sections.